International business is business that is conducted across national borders. It includes any resources needed to produce a company’s goods or services, such as people, skills and capital.
When companies expand their business dealings beyond the borders of their country of origin, they need to be aware of many issues. For instance, they need to be aware of not only the laws of their home country, but of the laws in countries in which they do business, and also any international law that may apply.
Some of the major types of international business are:
A company that is doing business in a foreign country should take note of many business-related issues. They should be aware of that foreign country’s:
As stated above, an international business is responsible for abiding by laws of their own country and of a country in which they do business. They may also be responsible for abiding by international law, when it applies.
International law governs relations between different nations, and business is one of the most important types of relations between nations. International law consists of a blend of different treaties, organizations, and agreements among countries. International law is created from a combination of:
It should be noted that above, it mentions that parties may have their disputes resolved by international courts. Participation in treaties and in international organizations is generally voluntary, so enforcement of principles may become informal. For example, one country may impose tariffs on another, to create economic distress and force a change on an issue.
International laws regulate international business transactions. International law provides rules and remedies that nations agree to follow. Here are a few types of regulations:
When a legal dispute arises between parties from different countries, there are can be many difficult issues. If you have an international business dispute, there are local business attorneys who specialize in international law. Contact such an attorney to learn more about your rights, defenses, and the complicated issues that may arise.
Last Modified: 07-20-2018 10:27 AM PDTLaw Library Disclaimer
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